Question
Can Data Buffet perform foreign exchange adjustments? That is, for a time series expressed in one local currency, can I automatically translate it to another currency?
Answer
Data Buffet offers you "canned" controls to convert frequencies and to apply analytic transformations. There is no comparable mechanism to translate between currencies, but you can write an explicit formula.
Example
For example, concept code FGDPLQ is "forecasted nominal gross domestic product in local currency." FGDPLQ.IAUS is in Australian dollars, FGDPLQ.IDNK is in Danish krone, FGDPLQ.IJPN is in Japanese yen, etc. Do you want to see them all expressed in euros? There is no canned way to do this; instead, you will need to manually apply an exchange rate series. For example, FTFXIEUZNQ.IAUS is "forecasted nominal exchange rate, AUD per EUR." Our bilateral exchange rate forecast series reside in the catalog under:
Forecast - Global national » Financial markets » Exchange rates
You can download the two series separately and apply a computation, or you can synthesize them using a Data Buffet formula:
(FGDPLQ.IAUS * (1/FTFXIEUZNQ.IAUS))
You will need to write one formula per country. You cannot write a basket formula that will bulk-apply exchange rates, because wild cards and geo lists cannot be combined with formulas. For example, this expression is rejected:
(FGDPLQ.I^^^ * (1/FTFXIEUZNQ.I^^^))
However, you can do something similar with a map of countries, because the "%geo%" parameter is automatically set for each area in the map template:
(FGDPLQ.%geo% * (1/FTFXIEUZNQ.%geo%))
Background
Formulas can be used in baskets, charts and maps. Formulas must be contained within parentheses. Rather than debug a complex formula, build it progressively by separately testing its operands and sub-expressions, to verify they exist and have values over the date interval of interest.
See also